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LOTTERY WINNINGS CAN BE ASSIGNED TO SECURE A LOAN UNDER MISSOURI LAW

The Missouri Court of Appeals ruled in 2015 that a lottery winner’s pledge of his lottery winnings to his bank under the Uniform Commercial Code is effective notwithstanding State Lottery Law that lottery winnings are unassignable without a court order. Gary Michael Clark v. Missouri Lottery Commission and Community Bank of El Dorado Springs, WD78060. […]